Am I missing something? Help please!

[Anonymous]

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longtimelurker wrote:The Penfed and Fidelity cards are Amex network, not an Amex card in the usual meaning. (so no backdating, 3x CLI, enhanced protections)

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True, if those things mean anything to you.  They are of little or no import to me.  As for the OP, he seemed more interested in rewards, and the fact that he mentioned the Fidelity specifically indicated to me that he was open to AmEx-network cards.

Chris.

[Anonymous]

Legitimate question, but there was a long thread on this topic not too long ago where the consensus was that Amex is way behind the times in rewards cards. Can't argue with this, but it seems like they're just trying to feel their way around on how to best cater to the lower-income demo right now. It seems like their current thinking is, yes our rewards aren't as good as other issuers, but we're Amex so you'll want to be part of our family anyway. Like has been said many times, carrying an Amex, much like owning a BMW, is still a status symbol to many. And just like there's a strong market for $30K stripped-down, underperforming BMWs and Mercedes cars today, apparently there's also a strong market for anything Amex among the less well-to-do.

At the end of the day though, I think the well-to-do will continue to patronize Amex (just like rich people continue to buy high-end BMWs and Mercedes), so Amex really loses nothing in trying to broaden its market share. Put another way, if you're rich and swear by BMWs, you'd probably balk at someone even suggesting you buy an Acura even if they're more reliable and may offer better bang-for-the-buck. These same people who wouldn't drive an Acura are probably the same ones who would laugh at adding a Sallie Mae card to their arsenal no matter how great the rewards are. Amex is still primarily for those who couldn't care less about trying to squeeze out every last half-point of rewards from their credit cards. It has nothing to do with ignorance of other products, but these people just don't care because they have high incomes and legitimately have a dozen other things to worry about than bringing home an extra $30 in rewards a month or whatever it may be. These people keep an Amex in their wallets because it's a dependable card backed by fantastic customer service, and at the end of the day, for busy, rich professionals, that's really what matters. And if you think about it, if your time was worth $100+ an hour, and you had lots of disposable income, would your priorities be any different? Probably not, as trying to keep track of 3-4 different rewards cards would probably be the most inefficient use of your bandwidth.

[Anonymous]

I think it still depends on what niche you look in.   I think the Everyday Preferred may be "best in class" providing you are able to effectively use MR points.  1.5MR on uncategorized spend beats most/all other things out there, depending on your valuation.

OBC is/was another best in class card.

But yes, some are lack-lustre, just like some of the cards of every other issuer.

[NRB525]

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@Anonymous wrote:

I am going to start out this thread by saying I don't intend for this to be inflammatory by soundling like I'm bashing American Express...

For the last couple months, I've strategically been applying for credit cards that align with my spending to maximize rewards, and I have made a wish list of cards that I want (the ones that remain are included in my signature). That said, I'm having trouble finding an American Express that fits in my list. Despite really wanting an American Express credit card just to say that I have one, I'm having trouble finding one that covers my spending categories better than the ones I have now or are on my list. I find the Sallie Mae MasterCard to be more useful to me than BCE due to my low monthly spending. I find Chase's and Discover's rotating categories also cover a lot of my spending (restaurants, online shopping, etc). I'm literally having trouble finding an Amex that I feel would help me collect rewards better than what's on my list. I don't do a lot of travelling, but even if I did, it seems like the CSP would still be a superior card to what I'm seeing on Amex's website unless there is something I'm missing.

Does anyone know of any Amex cards other than the ones listed on Amex's website that offer truly exceptional rewards, preferably with no annual fee unless the rewards are stellar? I really want an Amex in my portfolio! They're flashy. But I want one that I would use -- not just one that I would show off. 

P.S. I do see the value in the Fidelity Amex, (although even that card is rivaled by Citi's Double Cash), but the problem is I don't bank with Fidelity.

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If you want "truly exceptional rewards" my limited experience has been that there is an AF linked to those.

AMEX for free would be the BCE with cash back (not inscrutable points). Cash back on groceries, everyone likes groceries, don't they?

Many here have noted the excellent customer service. I like my Delta SkyMiles card for the particular benefits when flying Delta. Other benefits cards are aligned with those lifestyles.

By trying for the BCE, you at least get the AMEX Member Since date locked in, and it's a simple way to have an AMEX available.